ACC 300 Week 2 Individual Problem Set P1-3A and P3-5A

This file ACC 300 Week 2 Individual Problem Set P1-3A and P3-5A consists of the right answers on the following task:

(Chapter 1 – P1-3A)

1. On June 1, Beardsley Service Co. was established by using the primary investment in the corporation amounting to $22,100 cash. The assets and liabilities of the company last June 30 is listed and the revenues and expenses for the month of June, the first month of their enterprise. Create a retained earnings statement, income statement and a balance sheet; explain the results.

2. (Chapter 3 P3-5A)

On April 1, 2010, Towne Architects are incorporated as licensed architects. In the first month of the company in the industry, these agreements and transactions occurred..The corporation utilized these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense. Journalize transactions, post, and prepare a trial balance.